Cancelling a credit card

[Anonymous]

What is the best way to cancell a credit card without effecting your credit score? Is it correct that if you do not use a credit card for 6 months they put a hold on it and you have to make a call to the credit card company to start it up again? Is it also true that if you do not use it for 2 years it would be cancelled? How does this effect your credit score?

[chartley3]

Make sure there is no balance on the card before you cancel it so it wont affect your FICO score. As for inactivity you should at least make a small purchase on the card very 6 months to show some activity or the TL really wont help your score at all.

[Anonymous]

I would never cancel a CC.... i have never had to call on an inactive card BUT thats just me.

The history works for you. Part of your score is length of credit. I use my cards for very small purchase every 5-6 mo. just to keep it going.

an open account just keep adding length of history & if used right will always be there. If closed good stays for 10 years...baddies for 7 years.

Cancel if the card is costing you big time.

Cancel will not effect your score unless you owe.Then it works against you as to UTIL. when closed you lost CL

IF you do not have a balance & close it you will still lose you CL & that MIGHT hurt at first

Message Edited by HappyDays on 08-07-2007 12:09 PM